Air Lease Corp ABS takes flight despite big Alitalia, Argentinas exposures

By Jennifer Kang
23 Oct 2019

Global aviation lessor Air Lease Corporation (ALC) has announced the third ABS transaction from its Thunderbolt aircraft leasing platform. The deal mainly consists of new to mid-life, narrow-body aircraft, but includes weak lessees facing bankruptcy or financial hardships.

Fitch Ratings and Kroll Bond Rating Agency assigned single-A ratings to the class ‘A’ notes, and triple-B ratings to the class ‘B’ notes. Mizuho, Bank of America and Goldman Sachs are serving as joint structuring leads for the $437m transaction.

Although the portfolio is well spread out between ...

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